Holding(s) in Company

F&C U.S. Smaller Companies PLC
27 April 2007


                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1.   Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

F&C US Smaller Companies PLC


2. Reason for the notification:

Disposal of Voting Rights


3. Full name of person(s) subject to the notification obligation:

Rensburg Sheppards Investment Management Limited


4. Full name of shareholder(s) (if different from 3.):

N/A


5. Date of the transaction (and date on which the threshold is crossed or
reached if different):

25 April 2007


6. Date on which issuer notified:

27 April 2007


7. Threshold(s) that is/are crossed or reached:

3%


8. Notified details:

Nominee holdings


A: Voting rights attached to shares

Class/type of shares if possible              Situation previous to the Triggering transaction
using the ISIN CODE
                                  Number of shares                   Number of voting Rights

Ordinary Shares                   946,544                            946,544
GB0003463402



Resulting situation after the triggering transaction

Class/type of shares Number of shares   Number of voting rights          % of voting rights
if possible using
the ISIN CODE
                     Direct             Direct         Indirect          Direct     Indirect

Ordinary Shares                                        879,868                      3.97%
GB0003463402


B: Financial Instruments

Resulting situation after the triggering transaction


Type of         Expiration Date      Exercise/Conversion       Number of voting rights     % of voting rights
financial                            Period/ Date              that may be acquired if the
instrument                                                     instrument is exercised/
                                                               converted.



Total (A+B)
Number of voting rights        % of voting rights

879,868                        3.97


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

Client holdings registered in the name of Nominee companies 100% owned by
Rensburg Sheppards Investment Management Limited


Proxy Voting:

10. Name of the proxy holder:

N/A


11. Number of voting rights proxy holder will cease to hold:

N/A


12. Date on which proxy holder will cease to hold voting rights:

N/A


13. Additional information:

N/A


14. Contact name:

Juliet Dearlove


15. Contact telephone number:

020 7011 5089




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